Chalk up another victory for Obamacare:
WASHINGTON (AP) – Americans pondering about purchasing overall health insurance on their personal later this yr, or maybe switching to a different insurer, are most likely out of luck. The policies are going off the market as a minor-observed consequence of President Barack Obama’s overall health care overhaul.
With constrained exceptions, insurance coverage companies have stopped selling until finally up coming 12 months the sorts of person programs that utilised to be offered yr-round. That locks out a lot of of the younger and healthful as nicely as the sick and injured, even individuals who can afford to purchase without having government subsidies.
“Now they’re caught,” said Bonnie Milani, an independent insurance broker in Los Angeles, who says she warned her buyers last 12 months that the change was coming. “It just closes every thing down.”
The next wide-open chance to indicator up comes in November, when enrollment for 2015 commences in the government-run insurance coverage marketplaces produced by the health care law. Firms are following that schedule even for the programs they promote outdoors the federal and state exchanges.
The overall health care law makes it possible for insurers to hold offering all yr. But it also creates the circumstances prompting them to end.
The issue with well being insurance coverage pre-Obamacare was that government policies had produced a thoroughly restricted marketplace that was inflexible, and designed barriers between the insured and health care price signals. The result was as well much bureaucracy, and spiraling fees.
What has Obamacare done to deal with this? Quite much absolutely nothing. In fact, it is manufactured the scenario worse, by producing health insurance more expensive and more difficult to get.